Rmin4000 final exam - Study guides, Class notes & Summaries

RMIN4000 FINAL EXAM BROWN UPDATED ACTUAL Questions and CORRECT Answers Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? - CORRECT ANSWER- 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What w...

RMIN4000 FINAL EXAM BROWN|275 Q’S AND A’S

RMIN4000 FINAL EXAM BROWN WITH COMPLETE SOLUTIONS RMIN4000 FINAL EXAM BROWN WITH COMPLETE SOLUTIONS RMIN4000 FINAL EXAM BROWN WITH COMPLETE SOLUTIONS Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? - ANSWER-0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 ...

Actual Cash Value - Replacement Cost minus Depreciation. Depreciation (%) = Age/Useful Life ACV = RC - Depreciation Highest depreciation is usually 80% In property insurance, indemnification is usually based on the actual cash value of the property at the time of the loss. EXAMPLE: Roof installed in 2012 for $5000 & has a useful life of 20 years. It will cost $6000 to replace based on current costs. After depreciation, the ACV is $3600. Depreciation is 40% (8 years old / 20 year useful l...

Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? - 0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss severity in 2019? - 8500 (136M/16K) Michael Scott owns a co...

RMIN4000 FINAL EXAM BROWN |Questions with 100% Correct Answers | Verified | Latest Update 2024 Graded A+

RMIN4000 Final Exam Brown Questions and Answers | Latest Update | 2024/2025 | 100% Verified How do you calculate the total premium if the expected loss is $50,000, administrative costs are $10,000, and the desired profit margin is 15%? Total premium = Expected loss + Administrative costs + (Expected loss + Administrative costs) × Profit margin Total premium = $50,000 + $10,000 + ($50,000 + $10,000) × 0.15 Total premium = $60,000 + $9,000 Total premium = $69,000 What is ...

Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? - ANSWER-0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss severity in 2019? - ANSWER-8500 (136M/16K) Michael Scott...

Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss frequency in 2019? - ANSWER-0.08 (16k/200k) Lannister Insurance Company insures 200,000 vehicles. In 2019, they paid a total of $136,000,000 in collision losses to the owners of 16,000 of those vehicles. What was Lannister's collision loss severity in 2019? - ANSWER-8500 (136M/16K) Michael Scott...

RMIN4000 Final Exam Brown Questions and Answers 2024.